SINGAPORE / ACCESSWIRE / March 21, 2019 / TTC’s main network Rigi will will launch on the 31st of March, 2019 .
The main network Rigi is a completely self-reliant blockchain solution for the mass adoption of the blockchain. The Rigi launch signals the project has moved one step closer to developing its own independent ecosystem which will be vitalized via various users, DAPPs, advertisers, and third-party services.
At the beginning
TTC was conceptualized in early 2018, with the vision to use blockchain technology to disrupt the current centralized dynamics of social networks. By May, It finished our fundraising successfully, despite the bear market.
The very first important choice for TTC team that had to make at that time was which blockchain network they would begin building our product. TTC team performed deep-dive researches on major blockchain networks, stripping the code to the line-by-line level, to look for the blockchain network suitable for mainstream services.
Over months of debating and evaluations, the TTC team realized that they would need to build their own main network. Their product needed faster transaction speed, superior scalability, and security, which no existing network was capable of providing. Moreover, the TTC team don’t want to rely on their entire project’s future on other people’s hand. As the crucial realization sank in, they wrote an open letter to the developer community in May and began building their own main network.
Birth of TTC Blockchain
The first main component to design was the consensus algorithm. TTC team considered most of the key algorithms such as PoW and PoS for the basis of our consensus. Yet, these would not be compatible with DAPPs with millions of users. They started to contemplate with DPoS, a consensus which has proven its speed and stability and modified it to suit their needs specifically. Hence, the Multi-tier BFT-DPoS was born.
Once the TTC team decided on the consensus, the development really gained its momentum. They revealed its first version of TTC Wallet and TTC Scan to the public in August, and a month later, in September, they released Test network “Merapi”.
On January 16, 2019, a hard fork successfully took place within Merapi to improve Rigi’s network stability and performance. After the 0.1.0 hard fork upgrade, TTC’s Test network Merapi has been running at a steady state regarding test environment optimization, overall network performance evaluation, and server configuration on recommended condition.
Today, TTC Protocol is at the verge of the official launching of TTC main network Rigi, a completely self-reliant blockchain solution and a sustainable token economy model designed specifically for mass adoption.
Launching of TTC main network
After the official launch of Rigi, it will undergo several steps to complete its entire launching process.
After the launching, the Main network Rigi will undergo a quick stabilization period to become a blockchain where scalability, security, and speed meet the requirements for mass adoption. After stabilization, any individual, DAPP, and service can utilize the TTC Blockchain to integrate the decentralized ledger technology in a way billions can benefit from.
The stabilization period will also ensure that all of the designed mechanisms of the Main network Rigi become fully functional. The stabilization period will primarily make sure that the token swap and Representative election will proceed smoothly.
Token swap is one of the most important steps that have to take place after the main network launches. The main network launch is essentially a migration from the Ethereum network to TTC’s own Main network Rigi; thus, TTC token holders will be required to undergo a certain process to swap their current ERC-20 TTC tokens to our native TTC coins.
The launch of any public blockchain is an incredibly exciting time. But as big as the hype is, many malicious attacks happen during the token swap process. So, first of all, if holders have any questions or suspicions about anything, TTC team suggest holders ask TTC team first. Also, as a rule of thumb, please be careful of any channel or platform with an inbox.
The token swap will begin within two weeks after the main network Rigi launches. The detailed instructions of the token swap will be disclosed soon. TTC team will make certain that they guide their holders through the swap properly and prevent unintentional losses.
The Representative Election
To secure the benefits of the DPoS aspect of our consensus, TTC Protocol will elect 50 Representatives from TTC’s candidate pool. These 50 Representatives will be ranked based on their votes and be given different chances to participate in each round of block production. In each round, 21 Representatives will be selected. After 10 rounds, 21 Representatives will be re-selected for block production from the 50 Representatives according to the latest voting results.
In the past month, investors, blockchain communities, developer teams, exchanges, and individuals around the world have submitted their applications for the Representative position in the hopes of contributing to the TTC ecosystem. TTC Protocol would like to express their gratitude and further express that TTC team are honored to receive countless inquiries and applications and that it will soon disclose candidates’ portfolios to the public.
The Representative Election is planned to commence within a week after the initiation of the token swap.
TTC team has been working on building a “Blockchain for Billions” and will continue to push forward every day to accomplish that dream into reality. The undertaking of such a journey and the responsibility of putting TTC’s beliefs into practice is no small task. This has involved rigorous planning, organizing a highly skilled team, and manifesting our idea into a living, breathing entity. As the Main network Rigi launches, it means that a rich and colorful TTC ecology began to be established and realized, and the TTC team are getting closer and closer to their ultimate goal.
SOURCE: TTC Protocol
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